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Type | July 1, 2014 |
July 1, 2015 |
July 1, 2016 |
---|---|---|---|
N/A | Partial | Final | |
Land | $50,000 | $50,000 | $50,000 |
Building | $100,000 | $200,000 | |
Total | $50,000 |
150,000 | $250,000 |
In this example, a supplemental bill would be generated. The added value for the completed building was $100,000: The $41,667 represents the assessment for the 5 months of February, March, April, May, and June.
($100,000/12) x 5 = $41,667
The tax due on the supplemental assessment would be calculated as follows:
$41,667 x .0083 [tax rate] = $345.84